CorTrust Bank National Association in Mitchell, South Dakota (SD), MN
Overview, Financial Summary, Detailed Financial Reports, Branches

  • CorTrust Bank National Association in Mitchell, South Dakota (SD), MN
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CorTrust Bank National Association - Overview

  • General
  • FDIC Certificate #: 6063
    Status: Active
    Federal Reserve ID: 61355
    Bank Holding Company (Regulatory Top Holder): Hopkins Financial Corporation (RSSDID: 1125740, Location: Mitchell, SD)
    Date Established: October 31, 1930
    Trust Powers Granted: Yes
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 23 (Domestic: 23, Interstate: Yes)
    OTS Docket #: 9372
    FDIC's unique #: 4091
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: January 01, 1934
    Last Structure Change Effective Date: September 11, 2009
    Last Structure Change Process Date: September 14, 2009
    Last Data Update: September 14, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 100 East Havens, Mitchell, SD 57301
    County: Davison
    Quarterly Banking Profile Region: Kansas City
    FDIC Geographic Region: Kansas City
    FDIC Supervisory Region: Kansas City
    FDIC Field Office: Sioux Falls
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Core Based Statistical Area (CBSA): Mitchell, SD (#33580)
    CBSA Micro Statistical Area: Yes
  • History of Changes
  • Participated in FDIC Assisted Absorption/Consolidation/Merger
  • Financial Summary
  • Total assets: $666.8 mil
    Equity capital: $74.1 mil
    Deposits held in domestic offices: $557.2 mil
    Return on assets (ROA): 1.26% ($8.4 mil)
    Quarterly return on assets: 1.32% ($8.8 mil)
    Return on Equity (ROE): 11.65% ($8.6 mil)
    Quarterly return on equity: 11.80% ($8.7 mil)
    Net income: $8.1 mil
    Quarterly Net income: $2.2 mil
    Pretax return on assets: 1.81% ($12,069.6 mil)
    Quarterly Pretax return on assets: 2.12% ($14,136.7 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 186Total employees (full-time equivalent)
  • $666,827Total assets
  • $12,121Cash and due from depository institutions
  • $633Interest-bearing balances
  • $234,243Securities
  • $15,095Federal funds sold & reverse repurchase agreements
  • $365,940Net loans & leases
  • $7,602Loan loss allowance
  • $0Trading account assets
  • $14,341Bank premises and fixed assets
  • $3,095Other real estate owned
  • $5,743Goodwill and other intangibles
  • $666,827Life insurance assets
  • $16,249All other assets
  • $592,702Total liabilities and capital
  • $557,215Total liabilities
  • $458,597Total deposits
  • $557,215Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 9244.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $17,000Trading liabilities
  • $0Other borrowed funds
  • $9,243Subordinated debt
  • $74,125All other liabilities
  • $74,125Total equity capital
  • $74,125Total bank equity capital
  • $0Perpetual preferred stock
  • $2,959Common stock
  • $24,464Surplus
  • $46,702Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $5,259Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $9,034Income earned, not collected on loans
  • $0Earning assets
  • $4,372Long-term assets (5+ years)
  • $615,911Average Assets, year-to-date
  • $196,710Average Assets, quarterly
  • $648,399Volatile liabilities
  • $661,505Insider loans
  • $435,933FHLB advances
  • $661,053Loans and leases held for sale
  • $2,132Unused loan commitments
  • $2,132Tier 1 (core) risk-based capital
  • $67,172Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $73,499Restructured Loans and leases
  • $5,478Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $33,772Total interest income
  • $6,886Total interest expense
  • $26,886Net interest income
  • $1,762Provision for loan and lease losses
  • $12,981Total noninterest income
  • $230Fiduciary activities
  • $2,104Service charges on deposit accounts
  • $0Trading account gains & fees
  • $10,647Additional noninterest income
  • $26,362Total noninterest expense
  • $12,841Salaries and employee benefits
  • $3,664Premises and equipment expense
  • $9,857Additional noninterest expense
  • $11,743Pre-tax net operating income
  • -$32Securities gains (losses)
  • $3,568Applicable income taxes
  • $8,143Income before extraordinary items
  • $0Extraordinary gains - net
  • $8,143Net income attributable to bank
  • $0Net charge-offs
  • $8,143Cash dividends
  • $3,541Sale, conversion, retirement of capital stock, net
  • $2,959Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 5.65%Yield on earning assets
  • 1.15%Cost of funding earning assets
  • 4.50%Net interest margin
  • 2.17%Noninterest income to earning assets
  • 4.41%Noninterest expense to earning assets
  • 1.26%Net operating income to assets
  • 1.26%Return on assets (ROA)
  • 1.81%Pretax return on assets
  • 11.65%Return on equity (ROE)
  • 7.41%Retained earnings to average equity (YTD only)
  • 0.95%Net charge-offs to loans
  • 49.76%Credit loss provision to net charge-offs
  • 3.81%Efficiency ratio
  • 66,027Assets per employee
  • 3.59%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 36.34%Loss allowance to loans
  • 2.04%Loss allowance to noncurrent loans
  • 84.15%Noncurrent assets plus other real estate owned to assets
  • 1.82%Noncurrent loans to loans
  • 2.42%Net loans and leases to deposits
  • 65.67%Net loans and leases to core deposits
  • 69.18%Equity capital to assets
  • 11.12%Core capital (leverage) ratio
  • 10.16%Tier 1 risk-based capital ratio
  • 15.41%Total risk-based capital ratio
  • Memoranda
  • $17Average assets
  • $648,399Average earning assets
  • $69,915Average equity
  • $597,323Average loans

Total Fiduciary and Related Assets (December 31, 2011)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $32,981Managed Assets
  • 1Number of Accounts
  • $27,080Personal trust and agency accounts
  • $26,332Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $748Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 15Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $5,901Other retirement accounts
  • $5,901Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 1 Minnesota Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    28423257Woodbury Branch9740 Tamarack Rd, Woodbury, MN 55125June 21, 2004Full Service Brick and Mortar
  • 22 South Dakota Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    04091Cortrust Bank National Association100 East Havens, Mitchell, SD 57301October 31, 1930Full Service Brick and Mortar
    1208654Letcher Branch2 Main Street, Letcher, SD 57359November 17, 1962Full Service Brick and Mortar
    2208655Mount Vernon BranchMain Street, Mount Vernon, SD 57363October 01, 1973Full Service Brick and Mortar
    3208656Artesian BranchHighway 34, Artesian, SD 57314December 15, 1977Full Service Brick and Mortar
    4208681Gayville BranchMain Street, Gayville, SD 57031July 01, 1965Full Service Brick and Mortar
    5208682Tabor BranchMain Street, Tabor, SD 57063July 01, 1965Full Service Brick and Mortar
    7208691Vermillion Branch101 West Main Street, Vermillion, SD 57069July 31, 1971Full Service Brick and Mortar
    8208696Yankton Branch110 Cedar Street, Yankton, SD 57078December 10, 1979Full Service Brick and Mortar
    910368Leola Branch2 Main Street, Leola, SD 57456May 15, 1944Full Service Brick and Mortar
    105747Bowdle Branch2 Main Street, Bowdle, SD 57428December 27, 1932Full Service Brick and Mortar
    11208698Southwest Branch1801 South Marion Road, Sioux Falls, SD 57106Febuary 18, 1992Full Service Brick and Mortar
    12208657Mitchell Branch719 North Main, Mitchell, SD 57301April 27, 1994Full Service Brick and Mortar
    14208658Sycamore Branch1900 South Sycamore, Sioux Falls, SD 57103October 30, 1995Full Service Brick and Mortar
    15208659South Minnesota Branch2101 South Minnesota Street, Sioux Falls, SD 57105July 15, 1996Full Service Brick and Mortar
    16208660Yankton Branch2404 Broadway, Yankton, SD 57078July 01, 1998Full Service Brick and Mortar
    18208662Arlington Branch114 S. Main, Arlington, SD 57212March 01, 1999Full Service Brick and Mortar
    191099Webster Branch36 West 7th Avenue, Webster, SD 57274January 01, 1904Full Service Brick and Mortar
    20189979Pierpont BranchMain Street, Pierpont, SD 57468June 17, 1974Full Service Brick and Mortar
    22358027Aberdeen Branch2016 6th Avenue, S.E., Aberdeen, SD 57401June 28, 1999Full Service Brick and Mortar
    232591Freeman Branch174 East Fourth Street, Freeman, SD 57029May 02, 1902Full Service Brick and Mortar
    26468110Cliff Avenue Branch1220 East 57th Street, Sioux Falls, SD 57108August 20, 2007Full Service Brick and Mortar
    27473101Cherapa Branch300 North Cherapa Place, Sioux Falls, SD 57103January 07, 2008Full Service Brick and Mortar

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